How Much Did We Spend in 2024?!? | 2024 Spending Analysis | Sara Marie |

00:24:01
https://www.youtube.com/watch?v=QIM4K9yKfyk

Summary

TLDRThe video provides an analysis of the creator's 2024 spending using Excel, focusing on various budget categories such as utilities, groceries, and sinking funds. They underline the importance of tracking actual spending to create a realistic budget for 2025. Throughout the video, they discuss how their spending aligns with their initial budget and propose adjustments for different categories based on their trends in 2024. The creator plans to continue using a combination of Excel and traditional writing to manage their finances better, sharing insights on budgeting effectively for personal life and family needs.

Takeaways

  • 📊 Analyzing actual spending helps adjust future budgets.
  • 💻 Excel is useful for detailed financial analysis.
  • 🍽️ Groceries and eating out totals should be monitored together.
  • 💵 Track and adjust variable expenses like utilities accurately.
  • 📅 Evaluate previous year spending before planning the next budget.
  • 🎉 Setting aside sinking funds can help manage future costs.
  • 📉 Aim to minimize unbudgeted expenditures in the future.
  • 💡 Consider switching insurance providers for potential savings.
  • 👗 Adjust clothing budgets based on family needs.
  • 🏖️ Plan for entertainment and vacation expenses in advance.

Timeline

  • 00:00:00 - 00:05:00

    The video begins with the host discussing her plan to analyze her 2024 spending using Excel, along with her budget planner. She emphasizes the importance of not only creating a budget but also tracking actual spending to ensure that the budget is realistic and to make necessary adjustments for 2025. She prepares to share detailed insights into her expenditures from January to November, avoiding December to maintain accuracy.

  • 00:05:00 - 00:10:00

    The host provides insight into her utility costs, revealing that she underestimated her monthly expenses for electric and gas. She shares her strategy to factor in a 3% increase for 2025 based on the past year's average spending. Beyond utilities, she discusses her grocery and eating-out expenses, noting trends in high and low spending months, all while affirmatively concluding that her combined food budget is accurately aligned for the family.

  • 00:10:00 - 00:15:00

    Continuing with other expenses, the host analyzes household expenses, gas for her vehicles, and unbudgeted costs, recognizing the need to eliminate the latter in future budgeting. She highlights her desire to categorize unbudgeted expenditures more clearly and allocates time for detailed analysis of these expenses in 2025, aiming for improved budgeting strategies while adjusting variable costs accordingly.

  • 00:15:00 - 00:24:01

    In the final segment, the host reviews her sinking funds and the substantial expenses related to activities, beauty, and insurance, noting some underfunding issues. She reflects on her family's priorities shifting, which will necessitate a revision of the budget in 2025, especially for entertainment, vacation, and children's activities. Conclusively, she encourages viewers to evaluate their finances similarly before setting up their annual budgets, promoting her own 2025 planner offer while signing off.

Show more

Mind Map

Video Q&A

  • What is the purpose of this video?

    The video aims to analyze personal spending in 2024 to help plan for a more accurate budget in 2025.

  • How does the creator track expenses?

    The creator uses both Excel and a traditional budget planner to track their expenses.

  • What are some categories discussed in the video?

    Some discussed categories include utilities, groceries, eating out, household items, and sinking funds.

  • What adjustment does the creator plan for groceries in 2025?

    They plan to keep the grocery and eating out budget the same as they were satisfied with the total spending amount.

  • How does the creator feel about using Excel?

    The creator prefers paper and pen but acknowledges Excel's utility for detailed analysis.

  • What issues arose in unbudgeted spending?

    The creator spent $1,800 on unbudgeted items and plans to analyze this to avoid such spending in the future.

  • What is a sinking fund?

    A sinking fund is a saving method where money is set aside for specific future expenses.

  • What should viewers do before setting up their 2025 planner?

    Viewers are encouraged to analyze their 2024 spending patterns to set realistic budgets for 2025.

  • Is there a planner available for purchase?

    Yes, the creator has a planner for 2025 available for sale with a discount code.

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  • 00:00:01
    [Music]
  • 00:00:13
    hey guys and welcome back to my channel
  • 00:00:14
    and welcome to today's video so today I
  • 00:00:18
    going to sit down with you guys and
  • 00:00:20
    analyze our 2024 spending um I have my
  • 00:00:24
    computer in front of me because I put
  • 00:00:26
    all of my information into Excel and
  • 00:00:28
    we're going to like take a look at it um
  • 00:00:30
    I do have my budget planner here um
  • 00:00:34
    where I have my 2024 budget my 2024
  • 00:00:38
    syncing funds everything that I kind of
  • 00:00:40
    thought would happen in 2024 um if you
  • 00:00:43
    guys know me and you've been following
  • 00:00:44
    me for a while you know that I typically
  • 00:00:46
    am a paper and Pen type of girl but the
  • 00:00:49
    accountant in me really desperately
  • 00:00:52
    needs to analyze information on a
  • 00:00:54
    computer sometimes and so I'm going to
  • 00:00:56
    show you how I compiled everything that
  • 00:00:58
    is in here on to an Excel sheet and we
  • 00:01:02
    can kind of put together a game plan for
  • 00:01:05
    what needs to happen in 2025 um I'm
  • 00:01:08
    planning on filming some of my 2025
  • 00:01:11
    setups very soon but before I do that I
  • 00:01:14
    wanted to take a look at what we
  • 00:01:16
    actually spent in 2024 a huge thing that
  • 00:01:20
    I think a lot of people miss when it
  • 00:01:22
    comes to budgeting is it's not enough to
  • 00:01:24
    just put together a budget sounds great
  • 00:01:26
    it's a great first step but if you want
  • 00:01:29
    to really know what you're spending you
  • 00:01:32
    have to be tracking what you're actually
  • 00:01:34
    spending and then you need to start
  • 00:01:36
    analyzing it and seeing is my budget
  • 00:01:39
    realistic is my budget what I'm actually
  • 00:01:41
    spending if not you need to make
  • 00:01:43
    adjustments and that's one reason why I
  • 00:01:45
    wanted to go ahead and sit down and do
  • 00:01:47
    this um I feel feel like I feel like
  • 00:01:49
    it'll be helpful for me so that I know
  • 00:01:52
    what to budget for in 2025 but I also
  • 00:01:54
    feel like it may be useful for you guys
  • 00:01:56
    to see um so this is going to be a very
  • 00:02:00
    vulner vulnerable type of moment it's
  • 00:02:02
    going to be everything we've spent from
  • 00:02:04
    January through November December we're
  • 00:02:06
    currently in and I didn't want to like
  • 00:02:08
    skew anything with super small number so
  • 00:02:10
    we're not going to look at December but
  • 00:02:12
    let me go ahead and try and figure out
  • 00:02:14
    how to get my screen
  • 00:02:17
    recorded
  • 00:02:19
    while
  • 00:02:21
    um while we are here cuz I want to put
  • 00:02:24
    it in at this moment so let's see I need
  • 00:02:27
    to do shift command five
  • 00:02:33
    shift command five there we
  • 00:02:37
    go and let me
  • 00:02:40
    just do it so you guys can see majority
  • 00:02:43
    of my screen
  • 00:02:54
    here okay so I think that's going to
  • 00:02:56
    work perfect so Sarah put it here
  • 00:03:02
    okay so and hopefully I can figure out
  • 00:03:05
    how to like undo it oh I see okay so you
  • 00:03:11
    probably see my screen over
  • 00:03:13
    here um I took all of my variable
  • 00:03:18
    expenses and all of my syncing funds and
  • 00:03:22
    I put in what the monthly amount was so
  • 00:03:25
    you see that January through November I
  • 00:03:28
    totaled it up and then I averaged it and
  • 00:03:30
    when I did the average I did it over 11
  • 00:03:32
    months because again we're not including
  • 00:03:34
    December you can see December is in
  • 00:03:36
    yellow so let's start with variable
  • 00:03:39
    expenses for electric I thought that
  • 00:03:43
    budget wise it would be around $50 per
  • 00:03:46
    month when you take a look at what our
  • 00:03:49
    average was our average was $94 so
  • 00:03:53
    instead of budgeting $50 every single
  • 00:03:56
    month going forward I need to start
  • 00:03:59
    doing more like a 100 a couple different
  • 00:04:02
    options that you have when it comes to
  • 00:04:03
    some of these utilities that can
  • 00:04:07
    be sorry we have someone going by um
  • 00:04:10
    when you have some of these expenses or
  • 00:04:13
    um utilities that are variable you can
  • 00:04:16
    do one of three things one you could
  • 00:04:19
    just guesstimate which is typically what
  • 00:04:21
    I've done you can also put together a
  • 00:04:24
    thinking fund and let's say instead of
  • 00:04:27
    guess guessing you can take a look at
  • 00:04:29
    what spend spending was and put a total
  • 00:04:32
    of you know our total so far up till
  • 00:04:36
    November was a little over $11,000 so
  • 00:04:39
    you could split that by 12 and put it in
  • 00:04:42
    a syncing fund and then some months are
  • 00:04:44
    going to be low for example I think our
  • 00:04:46
    lowest month was $61 in October um the
  • 00:04:51
    low months will kind of offset the
  • 00:04:53
    higher months or you can do which is
  • 00:04:56
    something that I did recently is I took
  • 00:04:59
    took all of our utilities so electric
  • 00:05:02
    and gas and I added another 3% on top of
  • 00:05:05
    what we spent in 2024 and that is what
  • 00:05:09
    I'm going to be budgeting in
  • 00:05:13
    2025 okay so those are some options
  • 00:05:16
    there but just to give you a little
  • 00:05:19
    background there um I know our electric
  • 00:05:22
    we were under budgeted because again I
  • 00:05:24
    think I budgeted $50 for both electric
  • 00:05:27
    and for gas per month and it ended up
  • 00:05:29
    being being almost double that in terms
  • 00:05:32
    of gas you can see um the total for gas
  • 00:05:35
    was 5.83 the average was $53 so doing
  • 00:05:39
    $50 per month um would be pretty average
  • 00:05:44
    when it comes to that but if you take a
  • 00:05:46
    look at like
  • 00:05:48
    February and um March those well I guess
  • 00:05:51
    January February and March when it's
  • 00:05:53
    coldest here um those were the highest
  • 00:05:56
    months for us so during that time we
  • 00:05:58
    would have been over $20 or $40 under
  • 00:06:01
    over budget so I think again electric
  • 00:06:04
    and gas I've already determined that
  • 00:06:06
    going forward in 2025 I'm just going to
  • 00:06:09
    add 3% to what we paid in each month and
  • 00:06:11
    that's what I'm going to budget that way
  • 00:06:13
    it's really really close to what we
  • 00:06:17
    should anticipate getting built for next
  • 00:06:20
    is going to be groceries so in 2024 I
  • 00:06:22
    decided I was going to budget
  • 00:06:25
    $1,000 per month for groceries and I
  • 00:06:27
    thought that that would be like really
  • 00:06:30
    dramatic and that there is no way that
  • 00:06:32
    we would get anywhere close to that but
  • 00:06:34
    if you take a look at our spending on
  • 00:06:37
    average we spent
  • 00:06:39
    $98 on groceries um there are definitely
  • 00:06:43
    some months where like we're lower so I
  • 00:06:45
    think the lowest month for us was in
  • 00:06:47
    February when we spent
  • 00:06:49
    $633 but then there's some months like
  • 00:06:53
    May and July where we spent over
  • 00:06:57
    $11,000 I was when I was piecing the
  • 00:06:59
    together I was trying to think like okay
  • 00:07:01
    what happened in these months I think
  • 00:07:04
    in and the funny thing is as I'm going
  • 00:07:08
    through I I don't think we were on
  • 00:07:10
    vacation so I don't think that we like
  • 00:07:12
    purchased extra food or like you know
  • 00:07:14
    duplicates of things because we were on
  • 00:07:16
    vacation I'm guessing that we probably
  • 00:07:18
    had people over and we purchased like
  • 00:07:20
    steak for everybody or just more like
  • 00:07:23
    appetizers or maybe we stocked up on
  • 00:07:25
    stuff from Costco um that's something
  • 00:07:27
    that I can definitely deep dive into
  • 00:07:29
    into if I really wanted to know but with
  • 00:07:33
    that being said I typically look at
  • 00:07:35
    groceries and eating out together
  • 00:07:36
    because I think okay when one month is
  • 00:07:39
    low the other is going to be high and
  • 00:07:40
    you can see that here so for example
  • 00:07:43
    when we had groceries of 633 in February
  • 00:07:48
    are eating out was
  • 00:07:49
    $563 so you can kind of see the months
  • 00:07:52
    that groceries are lower eating out is
  • 00:07:54
    going to be higher which makes sense
  • 00:07:56
    because if you're not eating at home as
  • 00:07:58
    much then you're probably eating out
  • 00:07:59
    more um my main thing is when I'm
  • 00:08:03
    looking at these two is I would like to
  • 00:08:04
    keep all food related items under $1,300
  • 00:08:09
    and if you take a look at what we spent
  • 00:08:11
    you can't see the sum but it ended up
  • 00:08:13
    being
  • 00:08:15
    $321 so
  • 00:08:17
    1321 as an average spent for groceries
  • 00:08:20
    and eating out which is exactly what I
  • 00:08:22
    budgeted so I'm going to keep those
  • 00:08:24
    exactly the same there's going to be
  • 00:08:27
    months where we have groceries that are
  • 00:08:29
    more more expensive and there's going to
  • 00:08:30
    be months when the eating out is more
  • 00:08:33
    expensive and I don't care so much if
  • 00:08:36
    each category is accurate just as long
  • 00:08:39
    as in total they're pretty accurate one
  • 00:08:41
    thing I have to say is as I was taking a
  • 00:08:43
    look I was thinking that over the year
  • 00:08:46
    we've probably eaten out less because we
  • 00:08:49
    really started prioritizing eating at
  • 00:08:51
    home and having like homecooked meals
  • 00:08:54
    and only really eating out once a week
  • 00:08:57
    um and so you can see our highest eating
  • 00:09:00
    out was in January February April was
  • 00:09:05
    also pretty high and then it they were
  • 00:09:08
    like lower months September was higher
  • 00:09:11
    because of my birthday um September is a
  • 00:09:13
    big month we have my birthday my
  • 00:09:15
    sister's birthday Jason's mom's birthday
  • 00:09:17
    and I know for a fact we went out to eat
  • 00:09:19
    and we like split the bill with my
  • 00:09:20
    sister and her family even though there
  • 00:09:22
    were a bunch of other people with us so
  • 00:09:24
    that's why that's higher um
  • 00:09:27
    November I'm guessing that's High
  • 00:09:29
    because we had family in town and so we
  • 00:09:33
    went and probably ate out more than
  • 00:09:34
    usual um so again it's kind of funny I
  • 00:09:38
    would think that in some of these months
  • 00:09:40
    it would be lower but I think in reality
  • 00:09:44
    that 1,300 per month for food is
  • 00:09:46
    probably exactly where we need to be so
  • 00:09:49
    I'm good with that I think that's going
  • 00:09:50
    to be what we stick to in
  • 00:09:52
    2025 it may seem like a lot and I I
  • 00:09:55
    guess I should probably explain this and
  • 00:09:56
    I'll do this again in our 2025 budget
  • 00:09:59
    setups but our groceries and eating out
  • 00:10:03
    kind of Encompass a lot so for groceries
  • 00:10:05
    it includes Macy's hot lunch because her
  • 00:10:07
    school does not have a cafeteria so we
  • 00:10:10
    do hot lunch and she gets hot lunch
  • 00:10:12
    usually about three times a week so we
  • 00:10:14
    sign up for that like in the beginning
  • 00:10:15
    of the month and then she gets you know
  • 00:10:17
    hot lunch at school it also
  • 00:10:20
    includes breakfast lunch dinner for me
  • 00:10:23
    and Jason it includes snacks for the
  • 00:10:26
    girls for um school it it includes like
  • 00:10:30
    protein drinks and Extras like that we
  • 00:10:33
    typically stock up at Costco and get you
  • 00:10:36
    know stuff in bulk and so it includes
  • 00:10:38
    that which can be around here for a
  • 00:10:40
    while um for eating out if we treat
  • 00:10:43
    other people to eating out we usually
  • 00:10:45
    include it there Jason and I also really
  • 00:10:47
    like to go on like a date night or we
  • 00:10:50
    call it a we just go to lunch usually
  • 00:10:53
    like once a week and we include it in
  • 00:10:55
    eating out so it encompasses a lot I
  • 00:10:57
    know $1,300 seems like a lot for a
  • 00:10:59
    family of four but I feel like we do
  • 00:11:02
    have a lot of freedom in that and if we
  • 00:11:04
    needed a cut back we definitely could um
  • 00:11:07
    next is going to be household so for
  • 00:11:08
    household I have been budgeting $200 per
  • 00:11:11
    month and as you can see our average for
  • 00:11:14
    the last 11 months has been two
  • 00:11:17
    $212 so right on track there's
  • 00:11:20
    definitely some months where it's lower
  • 00:11:21
    some months that it's higher I think
  • 00:11:23
    some of these months if we had like
  • 00:11:25
    lower numbers I would also like purchase
  • 00:11:28
    something that we've been waiting to
  • 00:11:29
    purchase so for example I got like new
  • 00:11:32
    towels for my downstairs basement so
  • 00:11:34
    things like that um but it seems like
  • 00:11:37
    we're exactly where we need to be next
  • 00:11:40
    is gas for our car so I have been
  • 00:11:42
    budgeting $200 per month and you can see
  • 00:11:45
    the average is
  • 00:11:47
    $169.95 now I want to see because some
  • 00:11:50
    of these can be skewed because of
  • 00:11:51
    vacation so we did go on vacation in
  • 00:11:54
    March and it looks like I did accurately
  • 00:11:56
    reflect that I put that in our vacation
  • 00:11:58
    syncing fund
  • 00:11:59
    and then in July we went to visit
  • 00:12:02
    Jason's brother Zach and it looks like I
  • 00:12:05
    did include the gas in our gas um
  • 00:12:10
    variable expense so that's why that's
  • 00:12:12
    272 um I am guessing that 175 is going
  • 00:12:17
    to be the sweet spot for us so I'm
  • 00:12:19
    probably going to decrease it and do 175
  • 00:12:23
    for gas going forward keep in mind this
  • 00:12:25
    is gas for my car Jason's car and both
  • 00:12:29
    of our motorcycles he has a Harley I
  • 00:12:31
    have a like Honda moped um and I feel
  • 00:12:36
    like besides the random vacations that
  • 00:12:38
    we've taken we've been kind of in that
  • 00:12:40
    sweet spot of 175 so we're going to go
  • 00:12:43
    ahead and do that um next is unbudgeted
  • 00:12:46
    so I don't budget anything for
  • 00:12:47
    unbudgeted but this is something that I
  • 00:12:49
    always have as a placeholder just for
  • 00:12:51
    random stuff I did not deep dive into
  • 00:12:54
    this yet but I'm definitely going to
  • 00:12:56
    take a look and see why we have some
  • 00:12:58
    random ones here
  • 00:12:59
    these could be related to kids
  • 00:13:01
    activities this could be related to like
  • 00:13:04
    signing up for like Macy's school um
  • 00:13:07
    registration it could be for signing up
  • 00:13:09
    for summer camp those types of things
  • 00:13:10
    because if I don't have money set aside
  • 00:13:12
    in a syncing fund already for that
  • 00:13:15
    sometimes I'll just throw in on
  • 00:13:16
    unbudgeted um so I'm going to do a deep
  • 00:13:18
    dive into that because really spending
  • 00:13:21
    $1,800 on unbudgeted and having no
  • 00:13:24
    category for it is not something that I
  • 00:13:26
    want to do so I'm going to go ahead and
  • 00:13:29
    deep dive into that um and I think in
  • 00:13:32
    2025 I really want to try and eliminate
  • 00:13:35
    having unbudgeted um if possible I would
  • 00:13:38
    like to like you know if I know
  • 00:13:40
    something's coming up that's kind of
  • 00:13:41
    outside of our Norm I would like
  • 00:13:44
    to take that and put it in our next
  • 00:13:47
    month's budget so those are our variable
  • 00:13:51
    expenses um again I feel like we're
  • 00:13:53
    pretty on track but there's definitely
  • 00:13:55
    some that I'm going to adjust in
  • 00:13:57
    2025 next is our sinking funds so for
  • 00:14:00
    syncing funds I took everything we spent
  • 00:14:03
    from syncing funds not what I
  • 00:14:04
    contributed because I don't think the
  • 00:14:06
    contributing part matters as much I want
  • 00:14:09
    to see what we actually need um and some
  • 00:14:11
    of this stuff was really interesting so
  • 00:14:13
    for example activities on average we
  • 00:14:16
    spent about $100 for activities and this
  • 00:14:19
    is going to be Mimi's gymnastics Macy's
  • 00:14:22
    softball Macy's cheer um in November we
  • 00:14:25
    also paid for um the girls to Start
  • 00:14:28
    Tumbling
  • 00:14:29
    I know in 2025 the girls will be doing
  • 00:14:32
    tumbling and I think that's roughly 178
  • 00:14:35
    per month so I'm not going to be able to
  • 00:14:37
    do $100 per month for activities it's
  • 00:14:40
    going to have to be higher and if Macy
  • 00:14:42
    decides to do cheer again that's going
  • 00:14:44
    to be even higher if I if we decide to
  • 00:14:47
    do um softball it's going to be even
  • 00:14:50
    higher so that's one of those things
  • 00:14:52
    that it's it's really hard to pinpoint
  • 00:14:56
    and really know what to contribute but I
  • 00:14:58
    think will just have to keep evaluating
  • 00:15:00
    that evaluating it depending on what's
  • 00:15:02
    going on and if Macy's doing cheer I
  • 00:15:05
    doubt that she's going to also do
  • 00:15:06
    tumbling at the same time that would be
  • 00:15:08
    a lot cheer is a big commitment so I
  • 00:15:10
    think in 2025 I'm probably going to have
  • 00:15:13
    activities set at $200 per month and if
  • 00:15:17
    we need to adjust it depending on what's
  • 00:15:19
    going on we'll do that beauty um on
  • 00:15:22
    average we spend about $56 per month on
  • 00:15:24
    beauty so this is going to be haircuts
  • 00:15:26
    for me and the girls this is going to be
  • 00:15:29
    makeup face wash that type of stuff um I
  • 00:15:32
    think for beauty I'll probably stick to
  • 00:15:34
    about $50 per month or just kind of up
  • 00:15:37
    it depending on what we need um me and
  • 00:15:40
    the girls don't go and get our hair done
  • 00:15:41
    that often I really don't use much
  • 00:15:43
    makeup so it should not be that much um
  • 00:15:47
    for car insurance this was kind of eye
  • 00:15:49
    opening so we spent $2,300 almost $2,400
  • 00:15:53
    on car insurance um this is for both of
  • 00:15:56
    our cars and both of our motorcycles
  • 00:15:59
    and on average it was about 215 per
  • 00:16:02
    month so right now we contribute $200
  • 00:16:05
    per month so we're definitely going to
  • 00:16:07
    be underfunded if that if we keep doing
  • 00:16:10
    that the other thing is I want to make a
  • 00:16:12
    note in 2025 to look at other providers
  • 00:16:16
    for insurance we've had the same
  • 00:16:17
    provider for our entire marriage so I
  • 00:16:20
    think over 11 years and I know from
  • 00:16:25
    experience with other people and talking
  • 00:16:27
    about cost of insurance that usually
  • 00:16:29
    when you switch you get better deals so
  • 00:16:32
    we're definitely going to have to look
  • 00:16:33
    into that car maintenance on average we
  • 00:16:36
    spent about 150 per month and that was
  • 00:16:39
    about $1,600 so I think that's probably
  • 00:16:43
    exactly where we need to be $150 I know
  • 00:16:45
    Jason wants to get new tires for his car
  • 00:16:48
    next year so I think we'll just continue
  • 00:16:50
    doing 150 per month um I think right now
  • 00:16:55
    I have to take a look I think right now
  • 00:16:57
    we do
  • 00:16:59
    $100 so we need to bump that up
  • 00:17:02
    Christmas and Gifts um our total is
  • 00:17:06
    close to
  • 00:17:08
    $66,000 and that's $536 per month so
  • 00:17:12
    Christmas and Gifts encompasses a lot
  • 00:17:14
    it's the kids birthday parties it
  • 00:17:17
    includes um like any special holidays
  • 00:17:20
    Christmas birthdays it includes Macy and
  • 00:17:23
    Mila's friends birthday presents because
  • 00:17:25
    we get invited to a ton of birthday
  • 00:17:27
    parties so I feel like that's not too
  • 00:17:29
    bad considering how much is encompassed
  • 00:17:31
    in there it also includes like Mother's
  • 00:17:34
    Day gifts Father's Day gifts um gifts we
  • 00:17:36
    get for Jason's parents and like you
  • 00:17:38
    know nieces and nephews all of that so I
  • 00:17:41
    feel like that's a pretty accurate
  • 00:17:43
    number I think we'll stick with the
  • 00:17:44
    probably 500 range um the clothes is
  • 00:17:49
    also one of those things that I think is
  • 00:17:51
    kind of interesting to see so um Jason
  • 00:17:55
    really doesn't buy many clothes but me
  • 00:17:57
    and the girls we buy quite a bit so
  • 00:17:59
    that's going to be an interesting thing
  • 00:18:01
    I'm going to try and utilize my
  • 00:18:03
    allowance a little bit more for clothes
  • 00:18:06
    going forward just because I'm changing
  • 00:18:08
    my strategy with my allowance spending
  • 00:18:11
    but for the girls I think we probably
  • 00:18:12
    need to up their budget for clothes to
  • 00:18:15
    be more in that 150 range um $100 just
  • 00:18:18
    doesn't seem to be count like cutting it
  • 00:18:21
    anymore Costco $6 or $60 per um year
  • 00:18:27
    that's perfect diapers we're not really
  • 00:18:30
    using anymore entertainment and vacation
  • 00:18:33
    so this includes all fun stuff that we
  • 00:18:36
    do with the kids so going to a movie
  • 00:18:38
    going rollerblading taking them to like
  • 00:18:40
    fun adventures it also includes our
  • 00:18:43
    Vacations so this past year we went to
  • 00:18:46
    Colorado in the springtime for skiing
  • 00:18:49
    summertime to go to the YMCA Camp and
  • 00:18:52
    then we did random things like like I
  • 00:18:53
    said go to visit Jason's brother Zach a
  • 00:18:56
    few times so we spent almost 8008 $8,600
  • 00:19:04
    on um entertainment and vacation we have
  • 00:19:07
    been budgeting $500 per month for that
  • 00:19:10
    and you can tell that's severely
  • 00:19:12
    underfunded so I think what we need to
  • 00:19:14
    do is just kind of evaluate like what
  • 00:19:16
    we're doing um if that needs to be upped
  • 00:19:19
    I feel like we don't do extravagant
  • 00:19:23
    vacations but when we do vacations it
  • 00:19:26
    does like it's easier to rent a van than
  • 00:19:29
    rather than having like buying a van and
  • 00:19:31
    spending all that money so again that's
  • 00:19:33
    something that I think I might look into
  • 00:19:35
    more and evaluate if that's something
  • 00:19:36
    that we need to increase it definitely
  • 00:19:38
    seems like our spending is over what
  • 00:19:41
    like our goal is to be under um family
  • 00:19:45
    pictures we
  • 00:19:46
    spent close to $800 on family pictures
  • 00:19:50
    this is for not only our like annual
  • 00:19:52
    family pictures but also like any
  • 00:19:54
    pictures the girls do with school and
  • 00:19:56
    activities um we do Buy pictures for
  • 00:20:00
    them like once a year per kid and then
  • 00:20:03
    if they're in activities like cheer we
  • 00:20:04
    do the pictures for that too um family
  • 00:20:07
    pictures are expensive it also includes
  • 00:20:10
    if we like when we do Macy's yearbook
  • 00:20:13
    every year and when I purchase new
  • 00:20:15
    pictures for like our wall um so it's a
  • 00:20:18
    lot it's a lot Home Maintenance we spend
  • 00:20:21
    about
  • 00:20:22
    $1,500 I feel like that's pretty good I
  • 00:20:24
    think we budget $200 per month so that's
  • 00:20:27
    kind of right on track I'm going to keep
  • 00:20:28
    doing it that way cuz eventually we'll
  • 00:20:30
    have bigger maintenance things to fund
  • 00:20:33
    subscriptions this is really just for my
  • 00:20:36
    um Amazon Prime subscription and
  • 00:20:40
    also and also um my gym membership
  • 00:20:44
    summer camp it looks like we spent about
  • 00:20:46
    $1,700 so roughly 153 per month crazy
  • 00:20:50
    that's how much we spent in 2025 we're
  • 00:20:52
    going to have lots of changes because
  • 00:20:54
    Milo will no longer be at Her Like
  • 00:20:57
    Preschool um but we will have to pay for
  • 00:21:00
    after care for her because our school
  • 00:21:02
    district does not have full day
  • 00:21:04
    kindergarten yet and we will need to pay
  • 00:21:06
    for a summer camp for her so um I will
  • 00:21:09
    have to evaluate that and get an idea
  • 00:21:13
    what we are going to need to be spending
  • 00:21:14
    for that tolls we're right on track with
  • 00:21:18
    tolls I think for a while I was putting
  • 00:21:20
    in $40 per month but $20 is just fine
  • 00:21:23
    because our average spending is1
  • 00:21:25
    1842 trash um it's again roughly $22 so
  • 00:21:31
    I think we're right on track with that
  • 00:21:33
    and then for water I think I was doing
  • 00:21:36
    $2 per month but I upped it to 50 so I
  • 00:21:39
    think we should be good there but anyway
  • 00:21:41
    those are all of our syncing fund
  • 00:21:43
    spending so there's definitely some
  • 00:21:44
    stuff that I need to do behind the
  • 00:21:46
    scenes research a little bit more into
  • 00:21:48
    some of these balances and really kind
  • 00:21:50
    of put together a better plan for 2025
  • 00:21:54
    there's some categories that were right
  • 00:21:55
    on track like groceries eating out were
  • 00:21:57
    good there nothing needs to be changed
  • 00:21:59
    but with some of our life changes um
  • 00:22:02
    like going on vacations more and with
  • 00:22:05
    like hosting more birthday parties and
  • 00:22:08
    having Mila being you know starting
  • 00:22:11
    kindergarten and doing summer camps like
  • 00:22:13
    we'll definitely have to re-evaluate
  • 00:22:16
    what we're contributing and just be
  • 00:22:18
    really mindful of you know where we're
  • 00:22:21
    putting certain balances so that is it
  • 00:22:24
    for
  • 00:22:26
    me so that is it for me today I hope you
  • 00:22:30
    guys enjoyed getting to see some of that
  • 00:22:33
    analysis um like I said normally I'm a
  • 00:22:36
    paper and Pen type of girl I love just
  • 00:22:39
    you know having stickers and writing
  • 00:22:41
    things down um it feels more like real
  • 00:22:44
    to me but every once in a while you need
  • 00:22:46
    to put pull up Excel and make it work
  • 00:22:48
    and I feel like this was super helpful
  • 00:22:51
    um just getting an idea of what our
  • 00:22:53
    actual spending is I'm going to do the
  • 00:22:55
    same thing with my business budget
  • 00:22:56
    because I do have
  • 00:22:59
    everything from Etsy and YouTube and
  • 00:23:00
    everything um and I just want to see
  • 00:23:02
    like what we're spending on
  • 00:23:05
    certain certain things with the with the
  • 00:23:07
    business um I really encourage you to do
  • 00:23:10
    the same thing if you have time before
  • 00:23:12
    you start setting up your 2025 planner
  • 00:23:14
    um the one I'm showing you here is my
  • 00:23:16
    2024 planner but I do have a planner for
  • 00:23:19
    sale for 2025 if you are like me and you
  • 00:23:22
    like to do paper and Pen budgeting I
  • 00:23:25
    will have a link down below there's also
  • 00:23:27
    a discount code if you want to pick one
  • 00:23:29
    up we have a lot left over so we're
  • 00:23:30
    trying to get them out to you guys um
  • 00:23:33
    before the new year but anyway I hope
  • 00:23:35
    you guys enjoyed getting to see a little
  • 00:23:37
    bit of that and I will see you guys next
  • 00:23:39
    time bye guys
  • 00:23:42
    [Music]
  • 00:23:51
    [Music]
Tags
  • budgeting
  • spending analysis
  • personal finance
  • sinking funds
  • Excel
  • 2024 budget
  • 2025 planning
  • family expenses
  • groceries
  • utilities